Club Account

Don’t find yourself short on your savings goal.

Most people have more than one type of “savings”, like their main bank account, an emergency fund, a retirement fund, and more. One savings tool that often gets overlooked is the Club Account – designed to help you reach a specific savings goal within the next year. It’s simple: you agree to the term ahead of time, plan out the amount you want to save, and make regular deposits to the account to pursue your goal. You keep money meant specifically for this goal separate and do not withdraw from it until the term is up, so you’re always moving positively towards your goal. With a slightly higher rate than a savings account, you’ll even get there a little bit faster!

A good idea for a Club Account is to save up for annual expenses. Whether that means setting aside money for next summer’s vacation, preparing so you’re not stuck in credit card debt after the holidays, or getting ahead of next tax season, there are a lot of yearly costs that you can save up for with a Club Account.